Originally seeking $59.95 million in 2013, Mike Markkula‘s Rana Creek Ranch comes with a private lake and landing strip.

Apple co-founder Mike Markkula has put his 14,000-acre ranch in Carmel Valley, Calif. back on the market with an asking price of $45 million. The property, known as Rana Creek Ranch, was previously listed in 2013 with an asking price of $59.95 million.

A working cattle ranch, the property includes a private lake, riding arena, two barns and a 2,900-foot landing strip. The 5,413-square-foot main house has one bedroom, one bath and two half baths. A covered walkway connects it to a two-bedroom, two-bath guest wing, and there is also a separate two-bedroom, two-bath guest house. The ranch also has offices and homes for the manager and staff.

Mr. Markkula said he and his wife Linda bought the ranch as a second home and possible retirement home after looking at properties for a year and a half. “We were the first ones to look at it and we bought it on the spot,” said Mr. Markkula, 74. “We wanted some place where there would be enough land around us that it would be private and quiet.” The couple paid $8 million for the house and 9,000 acres in 1982, he said.

Over the years they remodeled the houses, making one room in the main house into a “cowboy bar” where Mr. Markkula likes to play cribbage. They also increased the acreage. Mr. Markkula said he learned to ride on the ranch. “I love rounding up cows on horse-back. It’s very soothing,” he said.

On 14,000 acres, the property includes a main home, guest house, private lake, riding arena, two barns and a 2,900-foot landing strip. PHOTO: RYAN ROSENE

The couple are selling as they’ve decided not to make it their retirement home. “We’ve enjoyed it. We’ve loved it but it’s time to move on,” he said.

Bill Mitchell and Steve LaVaute of Carmel Realty Company share the listing.